NXG


YOU HAVE TO HAVE THE PATIENCE , YOU HAVE TO HAVE THE VISION


“I’m working in an


industry that is growing, but has so much mystery to it. I feel venture capitalists have a tendency to consider themselves demi-gods—we glorify start-ups that made a tonne of money, rather than start-ups that are actually just good businesses,” he says. “I make those mistakes


all the time and I discuss these [issues] and different theories about the industry with family and friends, so blogging is an outlet that I use to share what I find out.” It is this constant


striving for self- improvement that keeps him busy. His current focus is on investing in the consumption sector, but in the future he plans to use his unique strategy to expand into new fields. He is even in the process of setting up India’s first entrepreneur school. “I want to build 10 to 15


more micro venture capital funds that will invest in different verticals, such as financial technology


34 CAMPDENFB.COM


and artificial intelligence, using the same strategy— getting in early, writing small cheques, having lots of money for follow on investing, having very low costs of operations, and focusing on making money from interest,” he says. “That’s going to be my


personal work for the next five years to get us from $30 million AUM to $300 to 500 million AUM. “I’m also creating


an entrepreneur school because India does not have one and we are in the process of bringing one of the top schools in the US to provide their syllabus and professors.” Some 13 years after


knocking on doors in the US, Damani is setting up a bright future for himself and leading his family office into new territory. But while it is clear he is proving himself a capable custodian for his family’s legacy, he says it is important he does it incrementally to show the older generation he is ready. “A lot of it [succession


planning] is building trust with the patriarchs— taking over more responsibilities, earning their trust, and proving you can handle what they have built so carefully,” he says. “You have to have the


Damani discusses


entrepreneurship at a newly


created incubator at business school IIM Udaipur.


patience, you have to have the vision and you need to be able to show, through performance, why things should be handed over to you. That is what I’m trying to do now.”


ISSUE 75 | 2019


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